Headline September Durable Goods Come In WAY Ahead Of Expectations

This was a very split report:

The headline number is 3.3%, so that’s good.

But excluding transport the number was down 0.8%, so that’s not so hot. Expectations were for growth of 0.2%.

aeroplane sales were a major drive of the headline number.

Stocks are basically unchanged since before the report.

One interesting thing is that August was revised up across the board:

Revised seasonally adjusted August figures for all manufacturing industries were: new orders, $410.3 billion (revised from $408.9 billion); shipments, $415.8 billion (revised from $415.1 billion); unfilled orders, $805.3 billion (revised from $804.0 billion); and total inventories, $526.9 billion (revised from $526.4 billion).

The full announcement can be found here.

Background: Analysts are looking for September durable goods orders to grow by 1.8%. However, ex-auto the number is expected to be just 0.2%.

Last month, ex-auto durable goods grew by 2%, which was well ahead of expectations.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

economy moneygame-us